In case of this device, sure. But it would be much more costly and error-prone, build your own PCBs etc. But in case of iPhone we don't worry about them building fakes from scratch, because those would be easy to tell on the spot. We worry about a genuine phone with fake parts.
> That's kind of a ridiculous threat model anyway, those targeted attacks are just going to hack the iPhone and stream the camera in software whenever they want with some custom payload.
As it is now these phones are not so easy to hack without user proactively installing malware and many of them would survive only until the next OS update or security response payload. A hardware attack is more compelling.